Background

The Vietnamese e-wallet market is currently assessed to be growing rapidly at 35% per year and is growing with more than 40 wallets and more than 120 fintech companies. Mr. Nguyen Dinh Thang – Chairman of the Vietnam Digital Technology Startup Investment Club (VDI) – also said that although this number may exceed the needs of the people, whichever unit can stand the test of time, “let the market decide”.

In addition, Zion President – ​​Ms. Truong Cam Thanh also said that “the market is still very open” at the present time. However, according to her comments, in the next few years, the number of popular e-wallets on the market will only focus on 3-5 applications that are truly convenient and reliable.

Goal

Challenge

Despite a thorough strategy and a solid website foundation, no road is always smooth, no mountain is without bumps. ZaloPay was also affected by two major Google updates, which led to a drop in the rankings of many keywords despite strong growth in the beginning. Of which, the biggest impact can be said to be when Google changed its SEO content orientation for one or more topic groups.

At the same time, TOS quickly found the best solution and solution so that traffic could quickly return to its peak. That is to regularly update article content according to the intent of the financial/fintech market and Google layout. At the same time, TOS also pushed more articles for the content groups about Movies, Food, Shopping and Finance to update the latest trends and promotions to customers.

Strategy

01

Top Funnel Strategy

02

Mid Funnel Strategy

03

Low Funnel Strategy

When there are too many e-wallets in the market, increasing brand awareness for ZaloPay is also a difficult problem. And the solution that TOS is bringing to ZaloPay is a keyword-focused strategy aimed at each target customer group in the first phase:

1. Top Funnel target group: Focus on keyword groups in 04 competitive feature groups and special Key Partners list to attract users through non-blog pages such as the introduction page of each partner on ZaloPay.

• This is a group of customers who are looking to learn and compare the benefits between e-wallets to start choosing a suitable online payment application.
• This customer group is considered to have great potential to increase conversion and wallet application downloads.
• To reach out, TOS has planned to optimize non-blog pages introducing affiliate partners, helping customers have more considerations on why they should choose ZaloPay e-wallet. At the same time, TOS also goes into depth about information on 4 extremely competitive feature groups currently available on the application to bring users the most convenient and fastest payment experiences.

2. Mid Funnel target group: Focus on keywords about online payment incentives, solving customers’ pain points when shopping for goods on e-commerce platforms or partner channels.

• Unlike the above customer group, the audience at this stage is almost quite familiar with online payment through current e-wallets and they are looking for attractive offers and exclusive service discount codes.
• At the same time, in this target group, they will also regularly look for solutions to common problems when making payments on any partner channel.
• Therefore, this will be an extremely important time for ZaloPay to retain old customers and increase new customers by offering sustainable and safe benefits.

3. Low Funnel target group: Focus on keyword groups directly related to e-wallets and related information.

• In fact, this is the group of people with the highest conversion rate but the number is not too large.
• Therefore, the main strategy for this group will be to prioritize sharing information to invite them to use ZaloPay products/services. So at this stage, TOS will focus on optimizing Banners, Messages and Call to action in the brand article group to be attractive and attract wallet downloads.

After the first phase stabilized, TOS focused on strategizing for phase 2 to optimize and increase traffic as desired. Specifically, TOS will expand the content of the articles, focusing on potential topics such as shopping, movies, travel, food, etc.

Because these activities all have the ability to insert CTA about using e-wallets to receive many attractive incentives, convenient payment. At the same time, ZaloPay also brings many promotional codes for new customers, connects with a variety of partner companies and many restaurants accept ZaloPay payment methods,…

Results

1. Organic traffic growth is strong
   • Increase keyword rankings, reaching 321% of committed KPI after phase 1.
   • Successfully achieved 100% commitment in phase 2.
2. In terms of growth in January 2022 and December 2022, ZaloPay has led in Growth according to the Semrush tool:
   • Overall: ZaloPay increased the most with 103% (April 2022 vs. December 2022).
   • Regarding non-brand: ZaloPay grew the strongest with more than 132%, followed by Momo with 80% and VnPay with 63%.
   • The next goal will be to approach Tier 1 and significantly reduce the gap with the Momo e-wallet brand.